Common use of Termination With Cause; Voluntary Termination Clause in Contracts

Termination With Cause; Voluntary Termination. If the Executive --------------------------------------------- suffers a Termination with Cause or the Executive terminates his employment with the Company (a "Voluntary Termination"), then, whether or not there has been a Change in Control, the Company will not be obligated to pay the Executive any amounts of compensation or benefits following the date of termination. However, earned but unpaid Base Salary through the date of termination will be paid in a lump sum at such time, and incentive compensation, if any, for the year during which such termination occurs will be pro rated for the portion of the year prior to the date of termination and paid in accordance with the Company's customary practice for payment of incentive compensation.

Appears in 6 contracts

Samples: Employment Agreement (Master Graphics Inc), Employment Agreement (Master Graphics Inc), Employment Agreement (Master Graphics Inc)

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Termination With Cause; Voluntary Termination. If the Executive --------------------------------------------- ---------------------------------------------- suffers a Termination with Cause (hereinafter defined) or the Executive voluntarily terminates his employment with the Company (a "Voluntary Termination"), then, whether or not there has been a Change in Control, the Company will shall not be obligated to pay the Executive any amounts of compensation or benefits following the date of termination. However, earned but unpaid Base Salary through the date of termination will shall be paid in a lump sum at such time, and incentive compensationthe earned but unpaid Annual Incentive Award, if any, for the year during which such termination occurs will shall be pro rated for the portion of the year prior to the date of termination and paid in accordance with the Company's customary practice for payment of incentive compensation.

Appears in 3 contracts

Samples: Employment Agreement (Master Graphics Inc), Employment Agreement (Master Graphics Inc), Employment Agreement (Master Graphics Inc)

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Termination With Cause; Voluntary Termination. If the Executive --------------------------------------------- suffers a Termination with Cause or the Executive terminates his employment with the Company (a "Voluntary Termination"), then, whether or not there has been a Change in Control, the Company will not be obligated to pay the Executive any amounts of compensation or benefits following the date of termination. However, earned but unpaid Base Salary through the date of termination will be paid in a lump sum at such time, and incentive compensation, if any, for the year during which such termination occurs will be pro rated for the portion of the year prior to the date of termination and paid in accordance with the Company's customary practice for payment of incentive compensation.

Appears in 2 contracts

Samples: Employment Agreement (Response Oncology Inc), Employment Agreement (Seafield Capital Corp)

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